Banco Santander replaces Víctor Matarranz and appoints Javier García Carranza as head of wealth management

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Carranza will lead a new unit after the merger of the Wealth Management and institutional areas, while Matarranz will work with Héctor Grisi in the execution of the entity’s strategy

Santander Bank reorganizes its leadership leadership. The entity has relieved Victor Matarranz as head of Wealth Management, the area in charge of the entity’s wealth and insurance management, and has appointed in his place Javier García Carranzauntil now responsible for Investment Platforms & Corporate Investments, as confirmed by the bank.

The change also implies a remodeling of the structure. Unitof Investment Platforms & Corporate Investments merges and integrates with the global business of Wealth Management & Insurance, “with the aim of better taking advantage of the synergies between both businesses”, giving rise to the unit of Wealth Management & Insurancefor which García Carranza will be the main person responsible, reporting to the CEO, Héctor Grisi.

“The objective is not only to simplify the structure, but to provide better service and offer better products to customers,” says the entity.The person responsible to date, Víctor Matarranz,He leaves his role after seven years in which he has managed to make this division “one of the fastest growing and most profitable businesses” of the group. From now on, he will work directly with Grisi to support him in the execution of the bank’s strategy.

These changes are part of the change in strategy and structure that the bank launched a little over a year ago, creating a new scheme based on five large global business areas instead of the traditional geographical division.

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In this context, the entity has also communicated its intention to unify the functions ofHuman Resources andTalent under a new division of Talent & Culturewhich will be directed by Javier Rogla, chief talent officer of the group, who will continue to report directly to Ana Botín. Alexandra Brandaountil now global head of human resources, has decided to leave her executive duties at Santander, although she will continue to be part of the group as a director of Santander Uruguay.

The structure of Digital Consumer Bank is also simplified, evolving to put more focus on growth. “To ensure proper governance and responsibility in meeting its objectives, each of the businesses will have its corresponding CEO,” the entity reports, reporting to the board of Digital Consumer Bank and the corresponding boards and commissions of each business.

Specific, José Luis de Mora will be executive vice president of Digital Consumer Bank,assuming for the European region a role focused on ensuring a robust control environment (financial, risks) and the execution of the strategy defined by the board, and will continue to lead the relationship strategy with global manufacturers (OEMs). De Mora maintains his duties as head of corporate development and financial planning.

Vicky Roiguntil now deputy head of Digital Consumer Bank, is appointed head of DCB Europe and CEO of Santander Consumer Finance, replacing José Luis de Mora, and reporting directly to Ana Botín. For its part, Bruce JacksonCEO of Santander Consumer Finance USA, will be responsible for defining DCB’s Auto business strategy globally, while Petri Nikkila, who recently joined the group, remains global CEO of Openbank and responsible for DCB’s Non-auto business globally.

Bruce and Petri will maintain a double report to DCB and to the heads of Santander US (Tim Wennes) and Retail & Commercial (Daniel Barriuso), respectively.

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